Formula One’s engine continues to rev. The global auto-racing circuit generated $2.57 billion in revenue in 2022, a 27% increase over 2019, and attendance reached 5.7 million last year, a 36% rise from prepandemic levels. That growth was partly powered by Netflix’s Drive to Survive showcasing the personalities of drivers like Lewis Hamilton. It’s helped draw more eyeballs, especially in the U.S., where ESPN’s telecasts of F1 races averaged 1.21 million viewers last year, double 2020 levels. The circuit is also expanding its U.S. footprint; F1 will host a race in Las Vegas this year for the first time since 1982. “You can’t wait for fans to come to you,” says Stefano Domenicali, president and CEO of Formula One. “We must go and reach them directly.”
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